IRADIMED (IRMD) Director Joe Kiani Converts RSUs to Shares

What Happened Joe Kiani, a director of Iradimed Corporation (IRMD), reported the conversion of 698 restricted stock units (RSUs) into 698 shares on 2026-09-23. The Form 4 shows the derivative conversion (code M) resulting in 698 shares acquired (price N/A) and an immediate disposition of 698 shares at $0.00. No cash sale value is reported in the filing.

Key Details

• Transaction date: 2026-09-23; Form 4 filed 2026-09-25 (appears timely).
• Acquired: 698 shares via derivative conversion (price reported as N/A).
• Disposed: 698 shares at $0.00 (reported as a derivative disposition).
• Shares owned after transaction: Not specified in the provided filing excerpt.
• Footnotes: F1 — each RSU is a contingent right to one share; F2 — RSUs were granted under the 2023 Equity Incentive Plan and vest in three equal annual installments beginning Sept 23, 2026 (this was the first tranche).
• The filing does not report a cash sale amount or market value for the shares.

Context The code M indicates an exercise or conversion of a derivative — here, RSUs converting into common shares upon vesting. It is common practice for companies to withhold or surrender shares to cover taxes when RSUs vest; the $0.00 disposition often reflects such withholding rather than a market sale, though the filing does not explicitly state the reason. This is a vesting/award-related event rather than an open-market buy or sell.